BROOMFIELD, Colo., October 16, 2007 - Level 3 Communications, Inc. (NASDAQ: LVLT) today announced that its operating subsidiary has purchased certain assets from AT&T Inc. (NYSE: T) that were divested as a result of the merger between AT&T and BellSouth. The acquired assets consist of indefeasible rights of use (IRUs) for dark fiber connections to 27 buildings as well as more than 450 metro fiber route miles in the nine markets where AT&T was required to divest assets.
Level 3 has acquired divested fiber assets in Atlanta; Birmingham, Ala.; Charlotte, N.C.; Chattanooga, Tenn.; Jacksonville, Fla.; Knoxville, Tenn.; Nashville, Tenn.; Orlando, Fla.; and South Florida. Under the terms of the agreement, Level 3 retains intermediate splice rights, which will enable it to add new buildings to the acquired assets.
“The purchase of these new assets further expands the metro market reach of the Level 3 network,” said Raouf Abdel, president of Level 3’s Business Markets Group. “The ability to add new buildings and offer the full portfolio of Level 3 services in each of these markets provides additional growth opportunities and reinforces our commitment to providing customers with facilities-based access to a comprehensive range of network solutions.
“This acquisition does not require the type of integration associated with recent metro and backbone transactions. The addition of these assets on favorable terms parallels Level 3’s previously announced acquisition of divested assets following the merger of AT&T Corp. and SBC Communications Inc.”About Level 3 Communications
Level 3 Communications, Inc. (NASDAQ: LVLT), an international communications company, operates one of the largest Internet backbones in the world, connecting 180 markets in 18 countries. The company serves a broad range of wholesale, enterprise and content customers with a comprehensive suite of services including: Internet Protocol (IP) services, broadband transport and infrastructure services, colocation services, voice and voice over IP services, and content delivery and media distribution services. These services provide the building blocks to enable Level 3’s customers to meet their growing demands for advanced communications solutions. The company’s Web address is www.Level3.com.
"Level 3 Communications,” "Level 3," the red 3D brackets and the Level 3 Communications logo are registered service marks of Level 3 Communications, LLC in the United States and/or other countries. Level 3 services are provided by wholly owned subsidiaries of Level 3 Communications, Inc. Any other service, product or company names recited herein may be trademarks or service marks of their respective owners.
Forward-Looking Statement
Some of the statements made in this press release are forward looking in nature. These statements are based on management’s current expectations or beliefs. These forward looking statements are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside Level 3’s control, which could cause actual events to differ materially from those expressed or implied by the statements. The most important factors that could prevent Level 3 from achieving its stated goals include, but are not limited to the company’s ability to: successfully integrate acquisitions; increase the volume of traffic on the network; defend intellectual property and proprietary rights; develop new products and services that meet customer demands and generate acceptable margins; successfully complete commercial testing of new technology and information systems to support new products and services; attract and retain qualified management and other personnel; and meet all of the terms and conditions of debt obligations. Additional information concerning these and other important factors can be found within Level 3’s filings with the Securities and Exchange Commission. Statements in this press release should be evaluated in light of these important factors. Level 3 is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.
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